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Copper market afternoon commentary: oil prices continued to rise to a new one-week high, overnight London copper closed up more than 3%; Global copper inventories fell further, domestic reserves were lower than expected, and the dual-control policy continued to increase, and spot copper is expected to rise
today.
Eurozone preliminary consumer confidence for September was released at -4, -5.
3 prior, -5.
8
expected.
Overnight, the Fed announced that it would keep current interest rates unchanged and keep current asset purchases unchanged
.
Market attitudes are seriously differentiated, and the macro outlook is uncertain
.
Yesterday's after-hours China Evergrande announced that it would pay bond interest, and market sentiment improved, with non-ferrous metals copper and aluminum rising sharply and lead and zinc falling
.
Overnight, London copper soared nearly 4% to close in the long sun, opening as low as $
9274 today.
Shanghai copper opened low and fell slightly yesterday, opened high near the 20-day moving average in the evening, and closed the doji at 69080
.
After Shanghai copper opened low, the lower buying was strong, but the macro uncertainty in the future market was high, and it may enter a range-bound market in the medium term
.
Shanghai copper upper pressure 71000, lower support 66000
.
Today's international copper premium fell sharply to 177 points, and the internal sentiment was significantly stronger
.
